Russell Investments Group Ltd. Purchases 384,248 Shares of CareTrust REIT, Inc. $CTRE

Russell Investments Group Ltd. grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 42.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,286,396 shares of the real estate investment trust’s stock after purchasing an additional 384,248 shares during the quarter. Russell Investments Group Ltd. owned about 0.58% of CareTrust REIT worth $44,612,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CTRE. EverSource Wealth Advisors LLC raised its position in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 644 shares during the period. Heritage Wealth Advisors boosted its holdings in CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 300 shares during the period. Farther Finance Advisors LLC grew its stake in CareTrust REIT by 75.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 640 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in CareTrust REIT in the 3rd quarter valued at approximately $54,000. Finally, State of Wyoming bought a new stake in CareTrust REIT during the 3rd quarter valued at $65,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

CTRE has been the topic of several recent research reports. The Goldman Sachs Group set a $44.00 target price on CareTrust REIT in a research report on Thursday, January 22nd. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Jefferies Financial Group increased their price objective on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Citizens Jmp began coverage on CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.18.

CareTrust REIT Trading Down 0.6%

Shares of CareTrust REIT stock opened at $39.74 on Thursday. CareTrust REIT, Inc. has a 1 year low of $25.82 and a 1 year high of $41.72. The firm has a market cap of $8.87 billion, a PE ratio of 50.30, a PEG ratio of 1.25 and a beta of 0.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company has a 50 day simple moving average of $38.43 and a two-hundred day simple moving average of $36.48.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.335 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 annualized dividend and a dividend yield of 3.4%. CareTrust REIT’s dividend payout ratio (DPR) is 86.45%.

CareTrust REIT Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.